AUSTRAC orders Cryptolink's crypto ATMs offline

AUSTRAC has suspended Cryptolink Pty Ltd’s registration amid ongoing concerns about its compliance with anti-money laundering and counter-terrorism financing (AML/CTF) obligations.

Cryptolink is a Virtual Asset Service Provider (VASP) that operates a network of cryptocurrency automatic teller machines (CATMs) across Australia. CATMs allow customers to exchange cash for cryptocurrency.

AUSTRAC CEO Brendan Thomas said Cryptolink’s VASP registration was suspended for three months from Sunday 9 August and it is no longer allowed to operate its 96 CATMs.

“As part of our continued focus on digital currency as a money laundering risk, AUSTRAC has ongoing concerns about the company's ability to manage high-risk transactions through its CATMs,” Mr Thomas said.

"While Cryptolink met the conditions stipulated in its enforceable undertaking, it subsequently failed to meet basic reporting obligations, particularly for threshold transaction reports.

“The company failed to submit these required reports or respond to AUSTRAC's request for information, thus we’ve deemed it too high risk to continue operating at present.”

AUSTRAC accepted an enforceable undertaking in October 2025 after its Cryptocurrency Taskforce identified alleged contraventions of the anti-money laundering laws, including late reporting of threshold transactions and weaknesses in Cryptolink's AML/CTF risk assessments.

AUSTRAC also issued Cryptolink with a $56,340 infringement notice at the same time, which the company paid.

The suspension of Cryptolink’s registration follows the establishment of AUSTRAC's Crypto Taskforce and supervisory engagements with crypto ATM operators since late 2024.

Mr Thomas said AUSTRAC would monitor Cryptolink to ensure it complies with the suspension.

“Cryptolink was given the opportunity to comply but could not meet its obligations despite the enforceable undertaking.

“We will continue to keep a close watch on the cryptocurrency sector, particularly businesses operating crypto ATMs, and will take action where we identify serious risks or non-compliance.”

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